These 3 Stocks Received Maintained Buy Calls From Local Research Houses

1. GuocoLand

Following GuocoLand’s win with its $1.62 billion bid for the Beach Road site, Maybank Kim Eng Research (MBKE) thinks it plans to build a 566,000 square feet office building and 300 800-square feet luxury apartments.

Although there are concerns that GuocoLand might need equity fundraising to finance the development, MBKE’s analysis gives analysts confidence that its “net gearing should remain comfortable”.

With these pieces of news, MBKE maintains their view that GuocoLand establishing a REIT platform “makes even more strategic sense” now. Moreover, MBKE looks at GuocoLand as a proxy for the Singapore market.

2. OCBC

On the back of a loan growth of 1.5% quarter-on-quarter and net interest margin increased to 1.66%, UOB Kay Hian Research (UOBKH) expects total fees and commissions to increase by 12% year-year-year to $479 million and $205 million in earnings from insurance operations.

Above are just a few of the many optimistic signs UOBKH sees for the local Chinese bank.

Apart from developments within the bank, UOBKH expects the upcoming Initial Public Offering (IPO) for Great Eastern Malaysia and dividends review to push its share price higher.